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USA will 'enforce the sanctions' against Iran: Pompeo

The U.S.is putting the sanctions back in place in two phases, with the first set hitting the country at 12:01 a.m Tuesday.

"If you stab someone with a knife and then you say you want talks, then the first thing you have to do is remove the knife", Mr Rouhani said.

"We are always in favour of diplomacy and talks". "There will be pressure because of sanctions, but we will overcome this with unity", he said.

European Commission officials told reporters that EU companies would be able to sue for compensation from USA banks or other businesses who acted to enforce the sanctions.

Iran says that by abandoning the agreement Washington has shown it can not negotiate in good faith.

"If they (sanctions) are applied, then that person can go to the court to recover that damage".

The White House says that overnight, it will reinstitute regulations that, among other things, prohibit the Iranian government's use of USA dollars and erect barriers to trade with Iran involving aluminum and steel, the Iranian automotive and airline industries, and gold and other precious minerals.

In July, Iran opened a secondary foreign-exchange market for importers of non-essential goods that are not eligible to receive the preferential rate from the central bank.

The re-imposition of United States sanctions on Iran has driven the biggest wedge yet between Europe and Washington.

"Trump has already taken a step back from his previous harsh stance", Rouhani said.

The U.S. has been pushing its allies to halt their import of Iranian oil ahead of the November deadline.

"Preserving the nuclear deal with Iran in a matter of respecting worldwide agreements and a matter of global security", the foreign ministers of France, Germany and the United Kingdom said in a joint statement Monday morning, adding they "deeply regret" the USA move. The protesters are angry about corruption within the regime and the use of the country's wealth to fund malign activities in the region instead of helping the Iranian people.

Iran started to suffer from the sanctions even before the measures came into effect.

Why did Mr Trump abandon the nuclear deal?

Tehran also agreed in perpetuity to notify United Nations inspectors if and when it builds a new nuclear facility. "Who can believe Trump is serious about talks?" he asked. European countries, along with Russian Federation and China, remain committed to the nuclear deal, but European companies are unlikely to risk US sanctions to do business with Iran.

Israel has also repeatedly expressed security concerns over the Iranian presence next to its borders in Syria.